-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, C9itR7sw64jt8jokPbNWwIlicBmVtYBuJVxRC79okYDnrORlnD7ZYP6ntyhYlgcV P3fmcE0GXyuLeRhDdYal4A== 0000935069-07-002707.txt : 20071121 0000935069-07-002707.hdr.sgml : 20071121 20071121144055 ACCESSION NUMBER: 0000935069-07-002707 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070930 FILED AS OF DATE: 20071121 DATE AS OF CHANGE: 20071121 EFFECTIVENESS DATE: 20071121 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CENTENNIAL NEW YORK TAX EXEMPT TRUST CENTRAL INDEX KEY: 0000837278 IRS NUMBER: 133481209 STATE OF INCORPORATION: MA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-05584 FILM NUMBER: 071262876 BUSINESS ADDRESS: STREET 1: 6803 SOUTH TUCSON WAY CITY: CENTENNIAL STATE: CO ZIP: 80112-3924 BUSINESS PHONE: 303-768-3200 MAIL ADDRESS: STREET 1: 6803 SOUTH TUCSON WAY STREET 2: 3RD FLOOR CITY: CENTENNIAL STATE: CO ZIP: 80112-3924 FORMER COMPANY: FORMER CONFORMED NAME: OPPENHEIMER NEW YORK TAX EXEMPT CASH RESERVES DATE OF NAME CHANGE: 19900530 0000837278 S000008465 CENTENNIAL NEW YORK TAX EXEMPT TRUST C000023199 A N-Q 1 rq780_42781nq.txt RQ780_42781NQ.TXT UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVETMENT COMPANY Investment Company Act file number 811-5584 -------- Centennial New York Tax Exempt Trust -------------------------------------- (Exact name of registrant as specified in charter) 6803 South Tucson Way, Centennial, Colorado 80112-3924 ------------------------------------------------------ (Address of principal executive offices) (Zip code) Robert G. Zack, Esq. OppenheimerFunds, Inc. Two World Financial Center, New York, New York 10281-1008 ----------------------------------------------------------- (Name and address of agent for service) Registrant's telephone number, including area code: (303) 768-3200 -------------- Date of fiscal year end: June 30 ------- Date of reporting period: 09/30/2007 ---------- ITEM 1. SCHEDULE OF INVESTMENTS. Centennial New York Tax Exempt Trust STATEMENT OF INVESTMENTS September 30, 2007 / Unaudited - --------------------------------------------------------------------------------
PRINCIPAL AMOUNT VALUE - -------------------------------------------------------------------------------------------------------------------- SHORT-TERM TAX-EXEMPT OBLIGATIONS--98.7% - -------------------------------------------------------------------------------------------------------------------- NEW YORK--96.7% Auburn, NY IDAU RB, Goulds Pumps, Inc. Project, Series 1989, 4.23% 1 $ 875,000 $ 875,000 - -------------------------------------------------------------------------------------------------------------------- Chautauqua Cnty., NY IDA IDV RB, Red Wing Co., Inc. Project, 3.84% 1,2 5,200,000 5,200,000 - -------------------------------------------------------------------------------------------------------------------- Erie Cnty., NY IDA School Facilities RB, City SDI of Buffalo Project, Series A, 5%, 5/1/08 135,000 135,970 - -------------------------------------------------------------------------------------------------------------------- New Rochelle, NY IDA MH RB, Reset Option Certificates II-R Trust, Series 10252CE, 4.02% 1,2 1,500,000 1,500,000 - -------------------------------------------------------------------------------------------------------------------- NY MTAU Dedicated Tax Fund RB, ETET Series 20060133, Cl. A, 3.92% 1,2 2,000,000 2,000,000 - -------------------------------------------------------------------------------------------------------------------- NY MTAU RB, Series E-1, 3.89% 1 1,000,000 1,000,000 - -------------------------------------------------------------------------------------------------------------------- NY TSASC, Inc. Tobacco RRB, P-Floats, Series PA-1355, 3.93% 1,2 920,000 920,000 - -------------------------------------------------------------------------------------------------------------------- NY TSASC, Inc. Tobacco RRB, P-Floats, Series PA-1356, 3.93% 1,2 3,050,000 3,050,000 - -------------------------------------------------------------------------------------------------------------------- NY Upstate Telecommunications Corp. RB, Series 2005, 3.89% 1 1,300,000 1,300,000 - -------------------------------------------------------------------------------------------------------------------- NYC FAU RRB, P-Floats, Series PT-3992, 3.90% 1,2 1,000,000 1,000,000 - -------------------------------------------------------------------------------------------------------------------- NYC GOUN, P-Floats, Series PT-3823, 3.71% 1,3 2,180,000 2,180,000 - -------------------------------------------------------------------------------------------------------------------- NYC GOUN, Subseries 2004 H-4, 3.90% 1 700,000 700,000 - -------------------------------------------------------------------------------------------------------------------- NYC IDA Civic Facilities RB, Casa Project, 3.96% 1 3,000,000 3,000,000 - -------------------------------------------------------------------------------------------------------------------- NYC IDA Civic Facilities RB, French Institute Alliance Project, Series 2005, 3.92% 1 2,050,000 2,050,000 - -------------------------------------------------------------------------------------------------------------------- NYC IDA Civic Facilities RB, Sephardic Community Youth Center Project, Series 2006, 3.89% 1 2,000,000 2,000,000 - -------------------------------------------------------------------------------------------------------------------- NYC IDA IDV RB, Abigail Press, Inc. Project, Series 2002, 4.10% 1 635,000 635,000 - -------------------------------------------------------------------------------------------------------------------- NYC Municipal FAU WSS RB, PTTR, Series 1289, 3.90% 1,2 500,000 500,000 - -------------------------------------------------------------------------------------------------------------------- NYC Municipal FAU WSS RRB, Series 2006 CC-2, 3.97% 1 1,000,000 1,000,000 - -------------------------------------------------------------------------------------------------------------------- NYC TFA Building Aid RB, ETET Series 2006 0145, Cl. A, 3.92% 1,2 2,300,000 2,300,000 - -------------------------------------------------------------------------------------------------------------------- NYC TFA Future Tax Secured RB, Series C, 4.10%, 2/1/08 50,000 50,048 - -------------------------------------------------------------------------------------------------------------------- NYC TFA Future Tax Secured RRB, NYC Recovery, Series 3, Subseries 3F, 3.96% 1 600,000 600,000 - -------------------------------------------------------------------------------------------------------------------- NYC TFA Future Tax Sub. RB, P-Floats, Series EC-1036, 3.95% 1,2 2,300,000 2,300,000 - -------------------------------------------------------------------------------------------------------------------- NYS DA RB, Austin Trust Certificates Series BOA-160, 3.89% 1,2 4,000,000 4,000,000 - -------------------------------------------------------------------------------------------------------------------- NYS DA RB, Eclipse Funding Trust Solar Eclipse Certificates, Series 2005-0005, 3.79%, 3/15/08 2,4 1,500,000 1,500,000 - -------------------------------------------------------------------------------------------------------------------- NYS DA RRB, P-Floats, Series PT-3639, 3.54%, 1/1/08 2,4 1,000,000 1,000,000 - -------------------------------------------------------------------------------------------------------------------- NYS UDC COP, Reset Option Certificates II-R Trust, Series 10011CE, 3.93% 1,2 600,000 600,000 - -------------------------------------------------------------------------------------------------------------------- NYS UDC RB, Personal Income Tax, Series B-2, 5%, 12/15/07 500,000 501,452 - -------------------------------------------------------------------------------------------------------------------- NYS UDC RB, SGMSTR Series 2003 SG163, 3.90% 1,2 1,100,000 1,100,000 - -------------------------------------------------------------------------------------------------------------------- NYS UDC RRB, Correctional & Youth Facilities Service Contracts, Series 2002A, 5%, 1/1/08 1,500,000 1,505,041 - -------------------------------------------------------------------------------------------------------------------- Ontario Cnty., NY IDA IDV RB, Seneca Foods Corp. Project, Series 2002, 4.09% 1 5,185,000 5,185,000 - -------------------------------------------------------------------------------------------------------------------- PAUNYNJ RRB, MERLOTS Series 2007 C01, 3.83% 1,2 3,980,000 3,980,000 - -------------------------------------------------------------------------------------------------------------------- Seneca Cnty., NY IDA SWD RB, MACON Trust, Series 2006 W, 3.96% 1,2 2,000,000 2,000,000 - -------------------------------------------------------------------------------------------------------------------- Southeast NY IDA IDV RB, Unilock NY, Inc. Project, Series 1997, 4.23% 1 1,400,000 1,400,000 - -------------------------------------------------------------------------------------------------------------------- Vestal, NY Central SDI GOUN, Series 2007, 4.125%, 6/15/08 245,000 245,679 - -------------------------------------------------------------------------------------------------------------------- 1 | CENTENNIAL NEW YORK TAX EXEMPT TRUST Centennial New York Tax Exempt Trust STATEMENT OF INVESTMENTS September 30, 2007 / Unaudited - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------------- PRINCIPAL AMOUNT VALUE - -------------------------------------------------------------------------------------------------------------------- NEW YORK CONTINUED - -------------------------------------------------------------------------------------------------------------------- Wayne Cnty., NY IDA RB, Seneca Foods Corp. Project, Series 1992, 4.19% 1 $ 5,060,000 $ 5,060,000 - -------------------------------------------------------------------------------------------------------------------- Westchester Cnty., NY BANs, Series 2007A, 3.74%, 12/20/07 3 1,500,000 1,500,060 ----------------- 63,873,250 - -------------------------------------------------------------------------------------------------------------------- OTHER SECURITIES--2.0% UBS Municipal Custodial Residual & Variable Securities, Series 2007-1037, 3.90% 1,2 1,300,000 1,300,000 - -------------------------------------------------------------------------------------------------------------------- TOTAL INVESTMENTS, AT VALUE (COST $65,173,250) 98.7% 65,173,250 - -------------------------------------------------------------------------------------------------------------------- OTHER ASSETS NET OF LIABILITIES 1.3 890,366 ----------------------------------- Net Assets 100.0% $ 66,063,616 ===================================
FOOTNOTES TO STATEMENT OF INVESTMENTS To simplify the listings of securities, abbreviations are used per the table below: BANs Bond Anticipation Nts. COP Certificates of Participation DA Dormitory Authority ETET Eagle Tax-Exempt Trust FAU Finance Authority GOUN General Obligation Unlimited Nts. IDA Industrial Development Agency IDAU Industrial Development Authority IDV Industrial Development MERLOTS Municipal Exempt Receipts Liquidity Option Tender MH Multifamily Housing MTAU Metropolitan Transportation Authority NYC New York City NYS New York State P-Floats Puttable Floating Option Tax Exempt Receipts PAUNYNJ Port Authority of New York & New Jersey PTTR Puttable Tax Exempt Receipts RB Revenue Bonds RRB Revenue Refunding Bonds SDI School District SGMSTR Societe Generale, NY Branch Municipal Security Trust Receipts SWD Solid Waste Disposal TFA Transitional Finance Authority UDC Urban Development Corp. WSS Water & Sewer System 1. Floating or variable rate obligation maturing in more than one year. The interest rate, which is based on specific, or an index of, market interest rates, is subject to change periodically and is the effective rate on September 30, 2007. This instrument has a demand feature which allows, on up to 30 days' notice, the recovery of principal at any time, or at specified intervals not exceeding one year. 2. Represents securities sold under Rule 144A, which are exempt from registration under the Securities Act of 1933, as amended. These securities have been determined to be liquid under guidelines established by the Board of Trustees. These securities amount to $34,250,000 or 51.84% of the Trust's net assets as of September 30, 2007. 3. Illiquid security. The aggregate value of illiquid securities as of September 30, 2007 was $3,680,060, which represents 5.57% of the Trust's net assets. See accompanying Notes. 4. Put obligation redeemable at full principal value on the date reported. 2 | CENTENNIAL NEW YORK TAX EXEMPT TRUST Centennial New York Tax Exempt Trust STATEMENT OF INVESTMENTS September 30, 2007 / Unaudited - -------------------------------------------------------------------------------- NOTES TO STATEMENT OF INVESTMENTS SECURITIES VALUATION. The net asset value of shares of the Trust is normally determined twice each day, at 12:00 Noon Eastern time and at 4:00 P.M. Eastern time on each day the New York Stock Exchange (the "Exchange") is open for trading. As permitted under Rule 2a-7 of the Investment Company Act of 1940, portfolio securities are valued on the basis of amortized cost, which approximates market value. If amortized cost is determined not to approximate market value, the fair value of the portfolio securities will be determined under procedures approved by the Trust's Board of Trustees. SECURITY CREDIT RISK. There are certain risks arising from geographic concentration in any state. Certain revenue or tax related events in a state may impair the ability of certain issuers of municipal securities to pay principal and interest on their obligations. ILLIQUID SECURITIES As of September 30, 2007, investments in securities included issues that are illiquid. A security may be considered illiquid if it lacks a readily available market or if its valuation has not changed for a certain period of time. The Trust will not invest more than 10% of its net assets (determined at the time of purchase and reviewed periodically) in illiquid securities. Securities that are illiquid are marked with the applicable footnote on the Statement of Investments. RECENT ACCOUNTING PRONOUNCEMENT In September 2006, Financial Accounting Standards Board issued Statement of Financial Accounting Standards ("SFAS") No. 157, FAIR VALUE MEASUREMENTS. This standard establishes a single authoritative definition of fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. SFAS No. 157 applies to fair value measurements already required or permitted by existing standards. SFAS No. 157 is effective for financial statements issued for fiscal years beginning after November 15, 2007, and interim periods within those fiscal years. As of September 30, 2007, the Manager does not believe the adoption of SFAS No. 157 will materially impact the financial statement amounts; however, additional disclosures may be required about the inputs used to develop the measurements and the effect of certain of the measurements on changes in net assets for the period. 3 | CENTENNIAL NEW YORK TAX EXEMPT TRUST ITEM 2. CONTROLS AND PROCEDURES. (a) Based on their evaluation of the registrant's disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940 (17 CFR 270.30a-3(c)) as of 09/30/2007, the registrant's principal executive officer and principal financial officer found the registrant's disclosure controls and procedures to provide reasonable assurances that information required to be disclosed by the registrant in the reports that it files under the Securities Exchange Act of 1934 (a) is accumulated and communicated to the registrant's management, including its principal executive officer and principal financial officer, to allow timely decisions regarding required disclosure, and (b) is recorded, processed, summarized and reported, within the time periods specified in the rules and forms adopted by the U.S. Securities and Exchange Commission. (b) There have been no significant changes in the registrant's internal controls over financial reporting that occurred during the registrant's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. ITEM 3. EXHIBITS. Exhibits attached hereto. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Centennial New York Tax Exempt Trust By: /s/ John V. Murphy --------------------------- John V.Murphy Principal Executive Officer Date: 11/14/2007 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By: /s/ John V. Murphy --------------------------- John V. Murphy Principal Executive Officer Date: 11/14/2007 By: /s/ Brian W. Wixted --------------------------- Brian W. Wixted Principal Financial Officer Date: 11/14/2007 EX-99.CERT 2 rq780_42781cert302.txt RQ780_42781CERT302.TXT Exhibit 99.CERT Section 302 Certifications CERTIFICATIONS I, John V. Murphy, certify that: 1. I have reviewed this report on Form N-Q of Centennial New York Tax Exempt Trust; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of Trustees (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. By: /s/ John V. Murphy --------------------------- John V. Murphy Principal Executive Officer Date: 11/14/2007 Exhibit 99.CERT Section 302 Certifications CERTIFICATIONS I, Brian W. Wixted, certify that: 1. I have reviewed this report on Form N-Q of Centennial New York Tax Exempt Trust; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of Trustees (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. By: /s/ Brian W. Wixted --------------------------- Brian W. Wixted Principal Financial Officer Date: 11/14/2007 -----END PRIVACY-ENHANCED MESSAGE-----